Is that agent making their living selling real estate or is this something they do on the side?
This should be the first question you should ask an agent who is trying to get your business. I am amazed how many folks will trust the most expensive purchase or sale in their life with someone who is doing this as a hobby.
If that person is not successful or dedicated enough to make a full time living at this, do you really want them handling your transaction? If were a consumer, I would want the absolute best real estate agent and loan officer I could find.
Those part time agents, who are getting upset reading this, please step back and look at this from the eyes of a consumer. I am sure you feel you are good at what you do and you have a great reason for doing this on the side. The truth is there is no way you can do it as well as a top full time professional. You have not made the investment of time, money, infrastructure and training as someone who does this as a career and a business. I am not saying all full time agents are top professionals. I am saying consumers should be looking for those who are.
In this changing market you need someone who is on the street and having success when most are crying and looking for work elsewhere. If an agent had a fully developed business before the market changed they may have seen some slippage in volume and profit. If they have a good business plan they will be picking up market share, while others are leaving to take jobs elsewhere.
Seeing the change in the market coming, I began investing in my business. Improved services, increased marketing and regular education have been my formula. That is correct, I began spending more time and resources seeing the change coming. So far it has worked. 2008 is on track to be my best year. I have been speaking to other top agents in the area and a few of them are also having big years. Mos are easy to spot, they have designations after there names and they are the ones doing the most marketing of their properties and themselves.
Our industry has always been made up of many part time agents. Since the change in the market, many full time agents have joined their ranks by taken on jobs in other areas while holding on to their license.
Here are some of the disadvantages to their clients, I am witnessing on a regular basis.
- Not available to return phone calls or show properties when needed.
- Cutting back on marketing to save money, including but not limited to:
- Internet
- Photos, (believe it our not)
- News Ads
- Open Houses
- Virtual tours
- Websites
- Flyers
- Not taking regular training or attending REALTOR® meetings.
- They are not networking with the top producers in the area.
- Not keeping current with the lending industry.
- Cut corners during the transactions and blowing deadlines.
Can a part time agent do a good job for you? Yes they can. Can they do as good of a job as a full time profession? It is theoretically possible, but rarely happens.
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